Reliance Industrial Infrastructure Ltd Q2 net profit drops by 11.4%: Report

Net profit of ₹2.26 crore in July-September was 11.4 per cent lower than ₹2.55 crore net profit in the same period last year.

Published on: Oct 15, 2022, 18:44:01 IST

PTIPosted by Lingamgunta Nirmitha Rao

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Reliance Industrial Infrastructure Ltd (RIIL) on Saturday reported an 11.4 per cent drop in the second quarter net profit on flattish revenue.

Net profit of ₹2.26 crore in July-September was 11.4 per cent lower than ₹2.55 crore net profit in the same period last year, the company said in a statement.

The profit was however 61 per cent higher than ₹1.40 crore net profit in the preceding April-June quarter.

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Revenue was almost unchanged at ₹21.2 crore.

"The company continues to provide infrastructure support services namely transportation of petroleum products and raw water through pipelines, construction machinery on hire, and other support services to Reliance Industries Group, with a substantial portion provided to Reliance Industries Limited," it said.

"The company presently does not have any expansion plans on the anvil."

ABOUT THE AUTHOR
Lingamgunta Nirmitha Rao
Nirmitha Rao is a journalist at Hindustan Times, covering political and human interest stories with a keen focus on science and environmental journalism.

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